Bulgaria: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Bulgaria

The Bulgarian non-metal permanent magnet market soared to $X in 2021, with an increase of 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a resilient increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Non-Metal Permanent Magnet Exports

Exports from Bulgaria

In 2021, shipments abroad of non-metal permanent magnets increased by 21% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports posted a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of 204% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, non-metal permanent magnet exports surged to $X in 2021. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 659% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Turkey (X tons) was the main destination for non-metal permanent magnet exports from Bulgaria, accounting for a 56% share of total exports. Moreover, non-metal permanent magnet exports to Turkey exceeded the volume sent to the second major destination, France (X tons), fourfold. The third position in this ranking was taken by North Macedonia (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey totaled +145.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+82.5% per year) and North Macedonia (+23.6% per year).

In value terms, the largest markets for non-metal permanent magnet exported from Bulgaria were France ($X), Germany ($X) and Turkey ($X), with a combined 93% share of total exports.

Among the main countries of destination, France, with a CAGR of +102.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average non-metal permanent magnet export price amounted to $X per ton, growing by 93% against the previous year. In general, the export price saw a significant increase. The most prominent rate of growth was recorded in 2019 an increase of 169%. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+31.0%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into Bulgaria

In 2021, non-metal permanent magnet imports into Bulgaria rose markedly to X tons, increasing by 5.3% against the previous year. Overall, imports posted a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of 91% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, non-metal permanent magnet imports skyrocketed to $X in 2021. Over the period under review, imports posted a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of 160% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Slovenia (X tons), China (X tons) and Germany (X tons) were the main suppliers of non-metal permanent magnet imports to Bulgaria, together accounting for 87% of total imports. These countries were followed by Italy and Turkey, which together accounted for a further 6.4%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +43.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-metal permanent magnet suppliers to Bulgaria were China ($X), Germany ($X) and Italy ($X), with a combined 60% share of total imports.

Italy, with a CAGR of +44.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-metal permanent magnet import price stood at $X per ton in 2021, picking up by 31% against the previous year. In general, the import price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when the average import price increased by 36% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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